House not selling!

Caravanna

Hello, we’re looking for a bit of house selling advice, We’re trying to sell MILs house. We’re a rural area but it’s on a new small estate, we’ve paid off her substantial equity release mortgage with all our savings to stop the huge amount of monthly interest and dropped the price from £245,000 to £215,000 but not even a peep! Should we try ONO or just drop it to 20K and see what happens? It’s been on since Christmas . 

Hoenir

What's the feedback from the viewings  ? What has the Estate Agent guided you to do? 

Martico

How do the asking price and condition compare with sold prices of other properties in the area?

mebu60

Have a conversation with a different estate agent or two. And tell your existing EA if nothing in next two weeks you'll be giving them notice. Hopefully you're on a 'no sale no fee' arrangement. 

Alderbank

Caravanna said:

Hello, we’re looking for a bit of house selling advice, We’re trying to sell MILs house. We’re a rural area but it’s on a new small estate, we’ve paid off her substantial equity release mortgage with all our savings to stop the huge amount of monthly interest and dropped the price from £245,000 to £215,000 but not even a peep! Should we try ONO or just drop it to 20K and see what happens? It’s been on since Christmas . 

Drop it to 20K is far too much.

Everyone who has set their target to >£200K will have long ago considered it and bought something else.
I would drop to £195K. That opens it up to a whole new tranche of potential buyers who have set their ceiling at £200K. If a few bidders are interested then the estate agent should be able to nudge the price up back towards your £215,000.

Don't bother with ONO. A serious buyer will make an offer to the estate agent regardless.

kazwookie

Do you have a link for it?

Ring another couple of EA's and get their views

Is it listed correctly on the internet / in the EA window etc?  it is suprising how many arent, is there a for sale board outside.

SarahB16

Make sure when you look on Rightmove you can find it and try to use a high street estate agent too.  Don't use the likes of Purple Bricks, etc.  

swingaloo

kazwookie said:

Do you have a link for it?

Ring another couple of EA's and get their views

Is it listed correctly on the internet / in the EA window etc?  it is suprising how many arent, is there a for sale board outside.

Its against Forum rules to post the link.

kazwookie

swingaloo said:

kazwookie said:

Do you have a link for it?

Ring another couple of EA's and get their views

Is it listed correctly on the internet / in the EA window etc?  it is suprising how many arent, is there a for sale board outside.

Its against Forum rules to post the link.

Really???  where please can you dm me a link to the forum rules that states this.  You are not allowed to put links in your signature, the rules I have read says ' be wary of clinking on any links' . thank you 

Cairnpapple

The HousingUk subreddit has a lot of posts about houses not selling, I'm not particularly suggesting you post there but it might be worth a look at some of the discussions.

While they do tend to focus a lot on price and finding local comparators, another issue that comes up a lot is that the listing is incomplete or inaccurate. For example, no dimensions on the floor plans, no information on any service charges, off road parking that isn't mentioned in the listing. 

Sometimes there are presentation issues that are relatively easy wins  such as power washing the drive or putting away toiletries etc.

Definitely worth a chat with another agent to see what they say.

RHemmings

kazwookie said:

swingaloo said:

kazwookie said:

Do you have a link for it?

Ring another couple of EA's and get their views

Is it listed correctly on the internet / in the EA window etc?  it is suprising how many arent, is there a for sale board outside.

Its against Forum rules to post the link.

Really???  where please can you dm me a link to the forum rules that states this.  You are not allowed to put links in your signature, the rules I have read says ' be wary of clinking on any links' . thank you 

@swingaloo is not talking about links in general, but posting personally identifying information such as a link to your own house for sale. That will tell a whole lot of internet strangers who you are and where you live. See the banner at the top:

PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.